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Having Reach Perfect Equilibrium, NYSE Plans Twice a Month Trading 8/4/21

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With the S&P 500 futures having traded in a range of less than 1% for the past 8 sessions, the New York Stock Exchanged announced today that it would only open twice a month for price fixing operations. Daily trading, particularly 24 hour trading around the world is no longer necessary, now that stock prices have reached a permanently high plateau, according to NYSE CEO Moe Howard.

CNBC announced that its daily propaganda programming would no longer be needed and that it would transition to a cinema verite format.

Maria Bariatricaroma announced that she would retire from Faux Business News. Wall Street bankers looked forward to her return to her early career as hooker to the stars, of Wall Street. She had continued this work secretly in recent years for select clients, with her Faux work a front.

Her less attractive CNBC colleague, Joker Nen, will be let go. He will return to giving blow jobs in bus station restrooms. 

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Meanwhile, here's the big picture technical outlook.

Closer Every Day

Chart Picks – Trading Range Death Trap Yields Two Picks

 

And a QE update. 

Here’s How Fed and Treasury Colluded to Delay Armageddon Due Date

 Here's a freebie on my reaction to what the Fed did last week. 

Fed Finally Starts the Standing Rippo Farcility

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33 minutes ago, DrStool said:

What can you say about this market. 

OK.

What.

Well, for me the last few days I have been saying "fornicate this fornicating boring-ass fornicating market"

Not exactly poetic or worthy of the Algonquin Round Table in the attempt at intellectual firepower on my part, but it does adequately express my emotions at present. 🙂

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It's resting. There's no excitement either way. I'm up on the week but only by dancing around and I'm exhausted for not much $. Is what it is, it has reached a plateau and nobody wants to sell but everyone is all in. Bad numbers don't affect it but I don't expect too much good news either so... We wait.

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6 minutes ago, DrStool said:

No. 

What. 

What is it. 

I said what I had to say. 

What. 

Yes. 

What is it? The market is War. And what is it good for? Absolutely nothin'. With apologies to Edwin Starr:

The Market, it ain't nothing
But a heartbreaker
The Market, friend only to the undertaker
Ooooh, Market
It's an enemy to all mankind
The point of the Market blows my mind
The Market has caused unrest
Within the younger generation
Induction then destruction
Who wants to die
Aaaaah, Market-huh
Good God y'all
What is it good for
Absolutely nothing
Say it, say it, say it
The Market, huh
What is it good for
Absolutely nothing

 

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3 minutes ago, Mkucstars said:

We could set a record here of number of new highs. Pennies, but new highs none the less. You've been right doc, I'll give you that

Of course I want to analyze the data correctly and arrive at the correct conclusion.

I observe the price and liquidity data in the context of the essential rules I first learned 50 years ago. Don't fight the Fed and, the trend is your friend. I try to do that without bias. The tools of observation are a little more sophisticated but the rules are of the essence.  

Sometimes there are anomalies and things that surprise me in the short run, but that's part of the process.   

Look, the market is rigged. The Fed has made no secret that it rigs the market. It always rigged the money markets. It started rigging the bond market 40 years ago. Stocks were a sideline. They became the Fed's target, front and center, and openly, with Bernanke's 2010 Washington Post QE editorial, where he made stock market trickle down an official Fed policy. 

It's absolutely criminal what they've done to honest people who just wanted to work hard, save money, and have a little interest income in their old age. 

Criminal. 

Bernanke is a war criminal. He designed and executed a financial holocaust that has continued for 12 years.  

...

I got a little off on a tangent there. 

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I'm just updating the withholding data. 

Negative surprise coming Friday, if they don't fudge too much. 

And it will get worse. The US economy has gone off a cliff in the last 2 weeks. 

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